The White House, President George W. Bush Click to print this document

For Immediate Release
Office of the Press Secretary
September 24, 2001

Fact Sheet on Terrorist Financing Executive Order
September 24, 2001

"We will starve terrorists of funding, turn them against each other, rout them out of their safe hiding places, and bring them to justice."

President George W. Bush
September 24, 2001

The President has directed the first strike on the global terror network today by issuing an Executive Order to starve terrorists of their support funds.  The Order expands the Treasury Department’s power to target the support structure of terrorist organizations, freeze the U.S. assets and block the U.S. transactions of terrorists and those that support them, and increases our ability to block U.S. assets of, and deny access to U.S. markets to, foreign banks who refuse to cooperate with U.S. authorities to identify and freeze terrorist assets abroad.

Disrupting the Financial Infrastructure of Terrorism

Authorities Broadened
The new Executive order broadens existing authority in three principal ways:

Blocking Terrorist Assets

Other Actions in War on Terrorist Financing
This Executive Order is part of a broader strategy that we have developed for suppressing terrorist financing:

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